Road pricing

In considering an expansion of a business into an Asian country, such as China, there would be numerous cross cultural challenges that we could stumble upon. Cultural differences effect the 4P marketing strategies in many ways For example, societal and institutional differences such as: ethnic culture, business culture, and value differences can be challenging when conducting business. In China, the majority of ethnic culture is focused on “relationships.” People can be very antisocial. In…

the most severe weather conditions. The North Face uses value-added pricing as the brand puts a lot of effort to differentiate their products from their competitors (Pearson Learning Solution, 2014). Their constant work on innovation and development of new technologies to make their products better than any others lets The North Face put a higher price on their products. The strong brand image plays a big role in product pricing as well. It allows the brand to use skimming strategy. Those…

money for the charity. With penetration pricing, the organization will start off by making a small profit by selling their products for a low price to attract the attention of customers. As time goes on, these prices will increase, generating more profit for the charity. A disadvantage to this method is that at the beginning, the profit will not be a lot and may not cover the expenses needed to make the products. On the other hand, with competitive pricing the Red Cross will follow the price of…

Everyday approximately two million people fly in the United States. This huge industry helps drive $1.5 trillion dollars annually and supplies the United States with more than 11 million jobs (Partnering in Safety & Security). Even with this huge amount of revenue for the industry, many airlines struggle with profitability. There are multiple reasons that airlines struggle with profitability. According to the Harvard Business Review, the biggest reasons that airlines struggle with profitability…

The Four P 's of Marketing Your Fleet Key purpose of the article Pricing is one of the four major P’s of the marketing mix. The article suggests that when the other three P’s of promotion, place and product are equal, then pricing becomes a major and influential factor in the success of an organization and the purchase decisions of customers. Identify two pricing concepts that you learned from reading this article. The article highlights the importance of coming up with an appropriate price…

Pricing strategy is a method adopted by a business to set the desired selling price. It typically depends on the firm’s average costs, and on the customer’s perceived market value of the product in comparison to their perceived value of the competitors’ products. Different pricing methods place varying degree of emphasis on selection, estimation, and evaluation of costs, comparative analysis, and market situation (Business Dictionary, 2016). Understanding and getting pricing right contributes…

Standards. For that reason, the business will aim to have Safety accreditation completed in the next six months and Quality accreditations completed within twelve months. Due to the business trying to ensure it survives the first twelve months, its pricing focused on the growth (Kotler, et al., 2013, p. 495) of its customer base and building brand awareness. This can sacrifices profit for market share. The next major goal is to ensure the business breaks even each month and moves towards making…

is a good managerial decision to do channel pricing. There are many factors that must be considered when do channel pricing. The first is to determine the price that is desired for the end consumer of the product. This price will help determine the amount of channels that will be used in order to reach the end user. This will also help determine the pricing structure through each distribution channel. The second factor is to determine the channel pricing with the considerations of other…

A brand is a name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers. The Under Armour brand is a megalodon in a sea of sports apparel. Starting literally in a basement in 1996, the brand has grown from its first sale of $17,000 to annual sales of $638 million in 2013. The brand is incredibly important to the company’s marketing strategy because it defines what…

Price is defined as the monetary value of a product or a service. Every organization’s goal is profit maximization so in pricing various factors are considered to ensure the goal is achieved. Market demand is one factor, high demand for a product calls for increase in its price while low demand for a product will require reduction in the price. Increase in production is one indicator of high demand while decrease low demand. Another factor is profit which is the difference between amount earned…